Terms Used In 5 Guam Code Ann. § 22111

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
(a) With respect to the appropriations by I Liheslaturan Guåhan for the operations of the Judiciary of Guam for any fiscal year, the Director of Administration shall deposit, on the last day of each month, into a bank account designated by the Judiciary, a sum from the prior month’s General and Special Fund revenue collections as defined in Subsection (a)(1) and (2) of this Section; provided, however, that the deposits for the fiscal year shall not exceed the total amount appropriated by I Liheslaturan Guåhan for the fiscal year.

(1) Deposit percentage calculation for each fiscal year shall equal the General Fund appropriation amount of the Judiciary of Guam’s budget for the fiscal year divided by the total General Fund Revenue Available for Appropriation for the government of Guam as adopted by I Liheslaturan Guåhan in the General Appropriations Act for the same fiscal year. The term “”General Fund Revenue Available for Appropriation”” as used herein shall not include revenue for
tax refund payments, federal sources, and the two percent
(2%) General Fund Reserve as mandated by 5 Guam Code Ann. § 22436.

(2) The monthly deposit shall be based on the percentage derived from Subsection (a)(1) of this Section multiplied by the actual cash collected by the aggregate revenue funding sources as defined in Subsection (a) of this Section.

(b) The Chief Justice of the Judiciary of Guam shall submit to the Speaker of I Liheslaturan Guåhan, I Maga’lahen Guåhan, and the Director of Administration, on or before October 10 of each year, a projected schedule of the monthly deposits in accordance with Subsection (a)(2) of this Section for the Judiciary for the fiscal year.

(c) It shall be a ministerial duty of the Director of Administration to make the monthly deposits to the Judiciary of Guam as required by this Section.

SOURCE: Added by P.L. 30-177:2 (July 22, 2010), effective thirty (30)
days from date of enactment pursuant to P.L. 30-177:4. Amended by P.L.
31-077:XII:38 (Sept. 20, 2011).

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ARTICLE 2
CENTRAL ACCOUNTING

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